The American Council of Life Insurers is preparing to offer insurance regulators several actuarial proposals.[@@]
The ACLI, Washington, will be discussing an interim life reserve proposal Thursday in Chicago, at a meeting of the Life & Health Actuarial Task Force of the National Association of Insurance Commissioners, Kansas City, Mo.
The NAIC winter meeting officially starts Saturday, but related meetings are already in progress.
During LHATF meeting talks about adopting a principles-based approach to reserving, the ACLI will present an interim reserve proposal that will include implementation of a revised 2001 Commissioners Standard Ordinary mortality table that will be split into preferred underwriting classes, says Paul Graham, the ACLI's chief actuary.
The classes in the proposal will include 3 non-smoker and 2 smoker classes, Graham says.
The new table will bring relief to life insurers that write term products, Graham says.
The ACLI also has lined up broad member support for a proposed revision to Actuarial Guideline 38, Graham says.
